economics is the study of how societies allocate resources to meet needs and desires. It delves into production, consumption, and the distribution of goods and services. This dynamic field analyzes market trends, governmental policies, and global trade, shaping decisions that impact individuals, businesses, and nations.

Economics is divided into microeconomics, which focuses on individual and business-level behavior, and macroeconomics, which examines national and global economic systems. It addresses critical issues like inflation, unemployment, and sustainable development. By understanding economics, individuals can make informed financial decisions, governments can implement effective policies, and businesses can thrive in competitive markets.